Fidson

GSK Consumer Nigeria Plc seems to have moved one step ahead in its bid to transfer the manufacture of some of its products to a local partner.

In a notice sent to the Nigerian Stock Exchange (NSE), the company announced it had picked Fidson Healthcare Plc as its preferred local contract manufacturing partner.

GSK will thus transition the manufacture of its respiratory and wellness products to Fidson from the third quarter of 2021. The firm, however, maintained that activities would continue at its Agbara plant till then.

Until then, it will be business as usual at the Agbara Factory, as GSK continues to ensure supply continuity of all its locally manufactured brands.

Prior to this 

GlaxoSmithKline Consumer Nigeria Plc (GSK) had early this month, issued a notice stating it says it would shut down its production facility in Agbara by the third quarter of 2021.

The move, according to the firm would enable it to focus on building  “a more sustainable commercial business”.

Riddle solved

At a Facts Behind the Figure session, held a few weeks ago, Fidelis Ayebae, Fidson’s Managing Director had hinted at a partnership with a global pharmaceutical giant. He, however, declined to mention the name of the partner, preferring to wait until the conclusion of the company’s rights issue.

Fidson Healthcare is currently trading at N4 in today’s session on the NSE, down 5.88%.

GSK Consumer is currently trading at N9.35, in today’s trading session, up 4.47%.

 

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Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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